Which Strategy Calls for a Firm to Focus on Achieving

question 77

Multiple Choice

Which strategy calls for a firm to focus on achieving highly efficient operating procedures so that its costs are lower than its competitors?

• A) focus strategy
• B) single-business strategy
• C) overall cost leadership strategy
• D) unrelated diversification strategy

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Definitions:

Charter of Rights

A formal document outlining the fundamental rights and freedoms guaranteed to individuals, usually established by a governing body.

Constitution

A set of fundamental principles or established precedents according to which a state or other organization is governed.

Liberal Democracy

A political ideology and form of government characterized by fair, free, and competitive elections, along with the protection of civil liberties.

Formal Democracy

A system of government where official, structured, and institutionalized procedures are followed to elect representatives and make policy decisions.